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Anti-Money Laundering and Counter-Terrorism Financing Rules 2025

Division 4Suspension of registration

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Part 1—Preliminary

1‑1 Name

This instrument is the Anti‑Money Laundering and Counter‑Terrorism Financing Rules 2025.

1‑3 Authority

This instrument is made under the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.

1‑4 Definitions

Note: Expressions used in this instrument have the same meaning as in the Act (see paragraph 13(1)(b) of the Legislation Act 2003). Some examples are the following:

(a) designated service;
(b) financial institution;
(c) governing body;
(d) nested services relationship;
(e) reporting entity;
(f) senior manager;
(g) transfer of value.

In this instrument:

ABN has the meaning given by section 41 of the A New Tax System (Australian Business Number) Act 1999.

ACN has the meaning given by section 9 of the Corporations Act 2001.

Act means the Anti‑Money Laundering and Counter‑Terrorism Financing Act 2006.

ARBN has the meaning given by section 9 of the Corporations Act 2001.

ARSN has the meaning given by section 9 of the Corporations Act 2001.

Attorney‑General’s Department means the Department administered by the Attorney‑General.

BECS means the Bulk Electronic Clearing System administered by the Australian Payments Network.

BPAY means the electronic bill payment system known as BPAY.

card number includes a tokenised reference that allows the issuer of a credit card, debit card or stored value card to trace a payment to a payer’s card.

co‑operative means a body that, under a law of the Commonwealth, a State, a Territory or a foreign country, is registered as a co‑operative.

corporate group means a group of 2 or more bodies corporate, where each member of the group is a related body corporate of each other member of the group.

Defence Department means the Department administered by the Minister responsible for administering the Defence Act 1903.

DEFT (short for “Direct Electronic Funds Transfer”) means the electronic bill payment system known as DEFT.

Division Division 4 - Anti-Money Laundering and Counter-Terrorism Financing Rules 2025 - Suspension of registration | Zoe

(a) either:
(i) for a person who is an individual—the individual; or
(ii) otherwise—the individual, or an individual in the group of individuals, with primary responsibility for the governance and executive decisions of the person;
(b) for a person other than an individual—a beneficial owner of the person;
(c) an individual who makes, or participates in making, decisions that affect the whole, or a substantial part, of the business of the person;
(d) an AML/CTF compliance officer of the person.

(a) paragraph (a) covers the reporting entity’s governing body (defined in section 5 of the Act); and
(b) paragraph (c) covers a senior manager (defined in section 5 of the Act) of the reporting entity.

(a) the value transferred is money; and
(b) the money is transferred to the payee in the payee’s capacity as a merchant; and
(c) the transfer occurs as a result of the use of any of the following:
(i) a credit card;
(ii) a debit card;
(iii) a stored value card; and
(d) the ordering institution issued that card to the payer; and
(e) the beneficiary institution initiates the transfer by sending the payer’s instruction for the transfer to the ordering institution; and
(f) the beneficiary institution pays, or accepts liability to pay, the payee (either directly or through another person).

(a) the payer’s full name;
(b) information that is one or more of the following:
(i) a unique customer identification number given to the payer by the ordering institution;
(ii) a unique identifier for the payer;
(iii) if the payer is an individual—the payer’s date and place of birth;
(iv) the payer’s full business or residential address (not being a post box).

(a) in relation to registration or proposed registration of a person under Part 6 of the Act as a remittance network provider—registrable remittance network services; or
(b) in relation to registration or proposed registration of a person under Part 6 of the Act as an independent remittance dealer or a remittance affiliate of a registered remittance network provider—registrable remittance services; or
(c) in relation to registration or proposed registration of a person under Part 6A of the Act as a virtual asset service provider—registrable virtual asset services.

(a) the information:
(i) for a transfer from an account held by the payer with the ordering institution—enables the ordering institution to identify the account; or
(ii) for a transfer of a virtual asset from a custodial wallet—enables the ordering institution to identify the payer’s virtual asset holdings in the wallet (such as by providing the wallet address, including the destination tag or memo details, if applicable); or
(iii) for a transfer of a virtual asset from a self‑hosted virtual asset wallet—provides the address of the wallet; or
(iv) in any other case—provides a unique transaction reference number for the transfer of value;
(b) the information:
(i) for a transfer in circumstances where the value is to be made available to the payee by depositing it into an account held by the payee—enables the beneficiary institution to identify the account; or
(ii) for a transfer of a virtual asset in circumstances where the asset is to be made available to the payee by transferring it to a custodial wallet—enables the beneficiary institution to identify the payee’s virtual asset holdings in the wallet (such as by providing the wallet address, including the destination tag or memo details, if applicable); or
(iii) for a transfer of a virtual asset in circumstances where the value is to be made available to the payee by transferring it to a self‑hosted virtual asset wallet—provides the address of the wallet; or
(iv) in any other case—provides a unique transaction reference number for the transfer of value.

(a) controls the remitter, virtual asset service provider or financial institution; and
(b) is not itself controlled by another body corporate.

(a) a unique identifier given to the person by an Australian government body (other than the person’s tax file number within the meaning of section 202A of the Income Tax Assessment Act 1936); or
(b) a unique identifier given to the person by a government body of a foreign country (together with information identifying the body); or
(c) a legal entity identifier given to the person by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); or
(d) a connected business identifier code given to the person by the Society for Worldwide Interbank Financial Telecommunication.

(a) the information is a combination of any or all of the following:
(i) letters;
(ii) digits;
(iii) characters;
(iv) symbols;
(b) the information distinguishes the transfer of value in a way that, either alone or in conjunction with any other information in the transfer message for the transfer of value, enables the ordering institution to associate the transfer of value with the payer, and the beneficiary institution to associate the transfer of value with the payee.

For the purposes of paragraph (a) of the definition of domestic politically exposed person in section 5 of the Act, the following offices and positions are specified: (a) Governor‑General; (b) Governor of a State; (c) Administrator of a Territory; (d) Justice of the High Court; (e) Judge of the Federal Court of Australia; (f) Judge of the Supreme Court of a State or Territory; (g) accountable authority, or member of the accountable authority, of a Commonwealth entity within the meaning of the Public Governance, Performance and Accountability Act 2013; (h) member of the governing body of a wholly‑owned Commonwealth company within the meaning of the Public Governance, Performance and Accountability Act 2013; (i) head (however described) of: (i) a Department of State of a State or Territory; or (ii) an agency or authority of a State or Territory that has a prominent public function; (j) head (however described) of a local government council in a State or Territory; (k) any of the following offices of a company or other incorporated body that is wholly‑owned or majority‑owned by a State or Territory: (i) chair of the board; (ii) chief executive officer; (iii) chief financial officer; (l) Chief of the Defence Force, Vice Chief of the Defence Force, Chief of Navy, Chief of Army or Chief of Air Force; (m) officer of the Navy of the rank of Vice Admiral or a higher rank; (n) officer of the Army of the rank of Lieutenant General or a higher rank; (o) officer of the Air Force of the rank of Air Marshal or a higher rank; (p) any of the following offices of the Commonwealth in a foreign country, or to a public international organisation, to which appointments are made by the Governor‑General: (i) Ambassador; (ii) High Commissioner; (iii) Consul‑General; (iv) Australian Representative; (v) Special Representative; (vi) Representative; (vii) Permanent Representative; (viii) Chargé d’Affaires; (q) member of the governing body of a political party represented in the legislature of the Commonwealth or a State or Territory.

(1A) A notice given by a reporting entity for the purposes of subsection (1) is taken to be effective if the reporting entity has taken reasonable steps to ensure it is given to all the other reporting entities in the business group, and is not invalid merely because a particular reporting entity did not receive the notice. Lead entity (2) For the purposes of subsection 10A(5) of the Act, the lead entity of a reporting group to which paragraph 10A(1)(a) of the Act applies must satisfy the following requirements: (a) the member is: (i) the member of the reporting group that the members of the group that themselves satisfy paragraphs (b) and (d) of this subsection have agreed, in writing, will be the lead entity of the group; or (ii) appointed in writing by the person in the business group that controls each other person in the group to be the lead entity of the reporting group; (b) the member is not controlled by another member of the group that provides designated services; (c) the member has the capability and authority (including by consent of group members) to develop and maintain the AML/CTF policies required by reporting entities in the group; (d) the member is one of the following: (i) a body corporate incorporated in Australia; (ii) a registered foreign company within the meaning of the Corporations Act 2001; (iii) a trust that has at least one trustee that is a resident of Australia; (iv) if the member is not a body corporate, foreign company or trust—a resident of Australia. Conditions for operation of reporting group (3) For the purposes of subparagraph 10A(1)(a)(iv) of the Act: (a) a reporting group must not operate without a lead entity for a continuous period of more than 28 days; and (b) during any such period, each member of the reporting group that is a reporting entity must continue to comply with the AML/CTF policies of the most recent lead entity of the group (the previous lead entity) that applied to the member immediately before the previous lead entity ceased to be the lead entity of the group.

General information relating to the applicant (1) The application must contain the following information relating to the applicant: (a) the applicant’s full name, and any registered or other names under which the applicant provides or will provide its designated services; (b) the applicant’s ABN, ACN, ARBN and ARSN (as applicable); (c) a legal entity identifier for the applicant (if any) given by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); (d) the address of the applicant’s registered office (if applicable); (e) the address of the applicant’s principal place of business or operations in Australia; (f) if the applicant is not an individual—information about the legal form of the applicant (such as a partnership, company or trust); (g) the names and dates of birth of any beneficial owners of the applicant; (h) information on the number of employees employed by the applicant; (i) if the applicant is an Australian resident (within the meaning of the Income Tax Assessment Act 1997)—whether the applicant was a small business entity (within the meaning of section 328‑110 of that Act) for the income year (within the meaning of that Act) corresponding to the previous financial year; (ia) whether the applicant is a Market Generator under the South Australian Electricity Legislation; (j) information identifying one or more associations of which the applicant is a member (if any) that represent the interests of a particular industry, profession or trade; (k) the applicant’s telephone number; (l) the applicant’s email address; (m) the full name, job title or position and email address of a contact person for the purposes of communications relating to the Australian Transaction Reports and Analysis Centre Industry Contribution (Collection) Act 2011; (n) the domain names for all websites (if any) through which the applicant provides or will provide its designated services; (o) a description of the applicant’s business or principal activity; (p) the approximate annual turnover of the applicant for the most recent financial year. Information for bodies corporate (2) If the applicant is a body corporate, the application must contain the following information relating to the body corporate: (a) the full name, and any former names, of each director; (b) the date of birth of each director; (c) the director identification number (if any) of each eligible officer of the body corporate; (d) the country in which the body corporate was incorporated and any countries in which it is registered; (e) if the body corporate was incorporated or is registered in any foreign country—the address of the principal place of business of the body corporate in that foreign country. (3) If the applicant is a body corporate that has an ultimate holding company (within the meaning of the Corporations Act 2001), the application must contain the following information relating to the ultimate holding company: (a) the name of the ultimate holding company; (b) the address of the principal place of business and the registered office of the ultimate holding company; (c) the country or countries of which the ultimate holding company is a resident; (d) a unique identifier for the ultimate holding company. Information for government bodies (4) If the applicant is a government body, the application must contain the following information relating to the applicant: (a) whether the applicant is an Australian government body; (b) if the applicant is not an Australian government body—the foreign country in which the applicant is established.

Information for partnerships (5) If the applicant is a partnership, the application must contain the following information in relation to each partner: (a) for a partner that is an individual (other than a trustee) and who has, or is a member of a group of individuals who have, primary responsibility for the governance and executive decisions of the partnership: (i) the individual’s full name, and any former names of the individual; and (ii) the individual’s residential address; and (iii) the individual’s date of birth; and (iv) a unique identifier for the individual given by an Australian government body or a government body of a foreign country; (b) for a partner that is a body corporate (other than a trustee): (i) the partner’s full name; and (ii) a legal entity identifier for the partner (if any) given by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); and (iii) the partner’s ABN, ACN, ARBN and ARSN (as applicable), or, if the partner has none of these, any unique identifier other than the one referred to in subparagraph (ii); and (iv) the address of the partner’s principal place of business or operations in Australia; and (v) the information mentioned in paragraphs (2)(a) to (e), in relation to the partner; (c) for a partner that is an association—the information mentioned in subsection (7) in relation to the association; (d) for a partner that is a trustee of a trust: (i) the name of the trust; and (ia) a unique identifier for the trust (if any has been given); and (ii) the information mentioned in paragraphs (6)(a) to (d), in relation to the trust. Information for trusts (6) If the applicant is a trust, the application must contain the following information relating to the trust: (a) the kind of trust (such as discretionary trust, bare trust or unit trust); (b) any former names of the trust; (c) for any trustee that is an individual—the information mentioned in subparagraphs (5)(a)(i) to (iv), in relation to the trustee; (d) for any trustee that is a body corporate: (i) the trustee’s full name; and (ii) a legal entity identifier for the trustee (if any) given by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); and (iii) the trustee’s ABN, ACN, ARBN and ARSN (as applicable), or, if the trustee has none of these, any unique identifier other than the one referred to in subparagraph (ii); and (iv) the address of the trustee’s principal place of business or operations in Australia; and (v) the information mentioned in paragraphs (2)(a) to (e), in relation to the trustee. Information for associations or co‑operatives (7) If the applicant is an incorporated association, an unincorporated association or a co‑operative, the application must contain the information mentioned in subparagraphs (5)(a)(i) to (iv) in relation to the individual, or each member of a group of individuals, with primary responsibility for the governance and executive decisions of the association or co‑operative. Information relating to reporting group (8) The application must contain the following information: (a) whether the applicant is a member of a reporting group; (b) whether the applicant is the lead entity of a reporting group; (c) if the applicant is the lead entity of a reporting group—the following information about the members of the reporting group that are reporting entities: (i) the name of the reporting entity; (ii) the identifier assigned to the reporting entity by AUSTRAC (if any); (d) if the applicant is a member of a reporting group but not the lead entity of the reporting group—the following information about the lead entity: (i) the name of the lead entity; (ii) the identifier assigned to the lead entity by AUSTRAC (if any).

<table cellspacing="0" cellpadding="0" style="width:100%; border-collapse:collapse"><thead><tr><td colspan="4" style="border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Definition of earnings</span></p></td></tr><tr><td style="width:8.46%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:27.28%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Type of person</span></p></td><td style="width:23.88%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Is the person a foreign company or a subsidiary of a foreign company?</span></p></td><td style="width:40.38%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Definition of earnings of the person for a period</span></p></td></tr></thead><tbody><tr><td style="width:8.46%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:27.28%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>An ADI or registered financial sector entity, or a related body corporate of an ADI or registered financial sector entity</span></p></td><td style="width:23.88%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>No</span></p></td><td style="width:40.38%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>The total profit of the person for the period before tax, depreciation and amortisation</span></p></td></tr><tr><td style="width:8.46%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:27.28%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>An ADI or registered financial sector entity, or a related body corporate of an ADI or registered financial sector entity</span></p></td><td style="width:23.88%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>Yes</span></p></td><td style="width:40.38%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>The total profit of the person for the period derived from operations in Australia, before tax, depreciation and amortisation</span></p></td></tr><tr><td style="width:8.46%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:27.28%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A person not covered by item</span><span> </span><span>1 or 2</span></p></td><td style="width:23.88%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>No</span></p></td><td style="width:40.38%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>The total earnings of the person for the period before tax, interest, depreciation and amortisation</span></p></td></tr><tr><td style="width:8.46%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:27.28%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>A person not covered by item</span><span> </span><span>1 or 2</span></p></td><td style="width:23.88%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>Yes</span></p></td><td style="width:40.38%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>The total earnings of the person for the period derived from operations in Australia, before tax, interest, depreciation and amortisation</span></p></td></tr></tbody></table>

(1) The application must contain the following information relating to the person (the candidate) proposed to be registered: (a) the candidate’s full name; (b) both of the following: (i) any other names the candidate is commonly known by; (ii) any names under which the candidate will provide its registrable services; (c) the candidate’s ABN, ACN, ARBN and ARSN (as applicable); (d) a legal entity identifier for the candidate (if any) given by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); (e) if the candidate is registered in, or holds a licence issued in, a foreign country to provide services that are of the same, or a similar, kind as registrable services (whether or not there is a connection to Australia or a resident of Australia)—details of that registration or licence; (f) the address of the principal place of business or operations of the candidate in Australia (if applicable); (g) the address of the candidate’s registered office (if applicable); (h) the addresses of any other places at or from which the candidate proposes to provide its registrable services; (i) information about the legal form of the candidate (such as an individual or a partnership, company or trust); (j) in relation to any individual who is a beneficial owner of the candidate: (i) the individual’s full name; and (ii) any other names the individual is commonly known by; and (iii) any former names of the individual; and (iv) the individual’s residential address; and (v) the individual’s date and place of birth; and (vi) a unique identifier for the individual given by an Australian government body or the government of a foreign country; (k) the candidate’s telephone number; (l) the candidate’s email address; (m) the domain names for any website through which the candidate will provide its registrable services; (n) a description of the candidate’s business or principal activity; (o) whether there are any permanent establishments of the candidate in Australia, and if so, information on those permanent establishments; (p) information on the expected turnover of the candidate in respect of the provision of its registrable services for the period of 12 months following registration; (q) if the provision of the candidate’s registrable services will involve dealing with customers or other persons located in foreign countries—information identifying those foreign countries. Information relating to completion of the application and declaration (2) The application must contain the following information about the individual completing the application: (a) the individual’s full name; (b) the individual’s job title or position; (c) if the individual is not the candidate—information on the individual’s role or relationship in relation to the candidate; (d) the individual’s date of birth; (e) the individual’s telephone number; (f) the individual’s email address; (g) the individual’s postal address. (3) The application must contain a declaration by the individual completing the application that the information contained in the application is true and correct. Information relating to the candidate—body corporate (4) If the candidate is a body corporate, the application must contain the following information relating to the body corporate: (a) the full name of each director; (b) for each director: (i) any other names the director is commonly known by; and (ii) any former names of the director; (c) the date and place of birth of each director; (d) the director identification number (if any) of each eligible officer of the body corporate; (e) the country in which the body corporate was incorporated and any countries in which it is registered; (f) if the body corporate was incorporated or is registered in any foreign country—the address of the principal place of business of the body corporate in that foreign country. Information relating to the candidate—partnership (5) If the candidate is a partnership, the application must contain information setting out the terms of the partnership agreement (if any), and the following information relating to each partner: (a) for a partner that is an individual (other than a trustee): (i) the individual’s full name; and (ii) any other names the individual is commonly known by; and (iii) any former names of the individual; and (iv) the individual’s residential address and most recent former residential address; and (v) the individual’s date and place of birth; and (vi) a unique identifier for the individual; (b) for a partner that is a body corporate (other than a trustee): (i) the partner’s full name; and (ii) a legal entity identifier for the partner (if any) given by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); and (iii) the partner’s ABN, ACN, ARBN and ARSN (as applicable), or, if the partner has none of these, any unique identifier other than the one referred to in subparagraph (ii); and (iv) the address of the partner’s principal place of business or operations in Australia; and (v) the information mentioned in paragraphs (4)(a) to (f), in relation to the partner; (c) for a partner that is an association—the information mentioned in subsection (7) in relation to the association; (d) for a partner that is a trustee of a trust: (i) the name of the trust; and (ia) a unique identifier for the trust (if any has been given); and (ii) the information mentioned in paragraphs (6)(a) to (d), in relation to the trust. Information relating to the candidate—trusts (6) If the candidate is a trust, the application must contain the following information relating to the trust: (a) the kind of trust (such as discretionary trust, bare trust or unit trust); (b) any former names of the trust; (c) for any trustee, beneficiary, settlor, appointer, guardian or protector of the trust that is an individual—the information mentioned in subparagraphs (5)(a)(i) to (vi), in relation to the individual; (d) for any trustee, beneficiary, settlor, appointer, guardian or protector of the trust that is a body corporate: (i) the body corporate’s full name; and (ii) a legal entity identifier for the body corporate (if any) given by an organisation accredited by the Global Legal Entity Identifier Foundation (together with information identifying the organisation); and (iii) the body corporate’s ABN, ACN, ARBN and ARSN (as applicable), or, if the body corporate has none of these, any unique identifier other than the one referred to in subparagraph (ii); and (iv) the address of the body corporate’s principal place of business or operations in Australia; and (v) the information mentioned in paragraphs (4)(a) to (f), in relation to the body corporate. Information relating to the candidate—associations or co‑operatives (7) If the candidate is an incorporated association, unincorporated association or a co‑operative, the application must contain the information mentioned in subparagraphs (5)(a)(i) to (vi) in relation to the individual, or each member of the group of individuals, with primary responsibility for the governance and executive decisions of the association or co‑operative.

(1A) The application must contain information on whether any of the candidate’s key personnel has ever been a beneficial owner of, or operated or been involved in the management of, a person (the other provider) who provides, or has provided, services of the same, or a similar, kind as the registrable services (whether or not there is a connection to Australia or a resident of Australia), and if so: (a) the full name of the other provider; and (b) the key personnel’s role in, or relationship with, the other provider; and (c) the period for which the key personnel was a beneficial owner of, or operated or was involved in the management of, the other provider. (2) The application must contain the following information: (a) whether the candidate or any of its key personnel has been charged or convicted of an offence against the Act, or of an offence against a law of the Commonwealth, a State or Territory or a foreign country of any of the following kinds: (i) money laundering; (ii) financing of terrorism; (iii) proliferation financing; (iv) people smuggling; (v) fraud (including scams); (vi) a serious offence of any other kind; (b) whether the candidate or any of its key personnel has been found by a court to have contravened the Act, the regulations or the AML/CTF Rules; (c) whether the candidate or any of its key personnel has been the subject of civil or criminal proceedings, or a regulatory or disciplinary process in Australia or a foreign country that: (i) related to the management of an entity, or commercial or professional activity; and (ii) involved an adverse finding as to the competence, diligence, judgement, honesty or integrity of the candidate or the key personnel (as applicable); (d) what steps the candidate has taken to establish the matters mentioned in paragraphs (a) to (c) in relation to its key personnel; (e) if any of the circumstances mentioned in paragraphs (a) to (c) exist—details of each of the circumstances; (f) whether any of the candidate’s key personnel has ever applied, or has been a beneficial owner of a person (other than an individual) that has applied, for registration under Part 6 or 6A of the Act (which deal with the Remittance Sector Register and the Virtual Asset Service Provider Register), and if so, information about that application; (g) whether any of the candidate’s key personnel is, has applied to be, or is intending to apply for registration, licensing or approval (however described) in any country to conduct regulated activity in the financial sector, and if so, details of the country and the kind of regulated activity the key personnel is involved in; (h) details of any training the candidate’s key personnel has received within the period of 12 months before the application is made in relation to providing registrable services, including the full name and business address of any training provider used to deliver the training.

For the purposes of paragraphs 75C(2)(b) and 76E(2)(b) of the Act, in deciding whether to register a person (the candidate) in accordance with an application made under section 75B or 76D of the Act, the following matters are specified: (a) any offences of which any of the following have been charged or convicted under the law of the Commonwealth, a State or Territory or a foreign country: (i) the candidate; (ii) the key personnel of the candidate; (b) any compliance or non‑compliance by any of the following with the Act or any other law of the Commonwealth, a State or Territory or a foreign country: (i) the candidate; (ii) if the candidate is not an individual—any beneficial owner of the candidate; (iii) if the candidate is a body corporate—any related body corporate (within the meaning of the Corporations Act 2001) of the candidate; (iv) if the registration would be as a remittance affiliate of a registered remittance network provider—the registered remittance network provider; (c) for an application made under subsection 75B(2) by a registered remittance network provider for the candidate to be registered as a remittance affiliate of the registered remittance network provider—whether the consent of the candidate has been obtained; (d) whether the candidate and its key personnel have experience that is appropriate, having regard to: (i) the nature, size and complexity of the candidate’s business; and (ii) the risks of money laundering, financing of terrorism and proliferation financing that the candidate may reasonably face in providing its registrable services; (e) the likelihood of the candidate conducting a business involving the provision of the registrable services; (f) the operational readiness of the candidate in relation to the proposed registration, including its ability to comply with the Act, the regulations and the AML/CTF Rules following registration; (g) the proposed resourcing (including personnel resourcing) of the candidate in relation to the provision of its registrable services.

The AUSTRAC CEO may suspend a person’s registration under Part 6 or 6A of the Act if the AUSTRAC CEO reasonably suspects that: (a) the person, any of its key personnel or any associate of the person or its key personnel, has been charged or convicted of an offence against the Act, or of an offence against a law of the Commonwealth, a State or Territory or a foreign country of any of the following kinds: (i) money laundering; (ii) terrorism or financing of terrorism; (iii) proliferation financing; (iv) people smuggling; (v) fraud (including scams); (vi) a serious offence of any other kind; or (b) the person or any of its key personnel has been found by a court to have contravened the Act, the regulations or the AML/CTF Rules; or (c) the person or any of its key personnel has been the subject of civil or criminal proceedings, or a regulatory or disciplinary process in Australia or a foreign country that: (i) related to the management of an entity, or commercial or professional activity; and (ii) involved an adverse finding as to the competence, diligence, judgement, honesty or integrity of the person or the key personnel (as applicable); or (d) the person or any of its key personnel is committing, continuing or repeating a contravention of the Act, the regulations or the AML/CTF Rules; or (e) the continued registration of the person involves, or may involve, a significant money laundering, financing of terrorism or other serious crime risk; or (f) the person has breached a condition of the person’s registration; or (g) the person does not have the operational capability necessary to comply with the obligations imposed by the Act, the regulations and the AML/CTF Rules on the person; or (h) the person or the person’s key personnel no longer have experience that is appropriate, having regard to the nature of the person’s business and the ML/TF risks of the person’s customers, in functions relevant to: (i) the person’s obligations under the Act; or (ii) providing registrable services; or (i) any information given by the person, or if the registration is as a remittance affiliate of a registered remittance network provider, the provider, for the purposes of Part 6 or 6A of the Act in connection with that registration: (i) is false or misleading in a material particular; or (ii) omits any matter or thing without which the information is misleading in a material particular.

For the purposes of paragraphs 75G(1)(c) and 76J(1)(c) of the Act, the following matters are specified: (a) whether the person, any of its key personnel or any associate of the person or its key personnel, has been charged or convicted of an offence against the Act, or of an offence against a law of the Commonwealth, a State or Territory or a foreign country of any of the following kinds: (i) money laundering; (ii) terrorism or financing of terrorism; (iii) proliferation financing; (iv) people smuggling; (v) fraud (including scams); (vi) a serious offence of any other kind; (b) whether the person or any of its key personnel has been found by a court to have contravened the Act, the regulations or the AML/CTF Rules; (c) whether the person or any of its key personnel has been the subject of civil or criminal proceedings, or a regulatory or disciplinary process in Australia or a foreign country that: (i) related to the management of an entity, or commercial or professional activity; and (ii) involved an adverse finding as to the competence, diligence, judgement, honesty or integrity of the person or the key personnel (as applicable); (d) whether the person is carrying on a business that involves providing registrable services; (e) whether the person continues to have the operational capability necessary to comply with the obligations imposed on the person by the Act, the regulations and the AML/CTF Rules; (f) whether the person and the person’s key personnel continue to have experience that is appropriate, having regard to the nature of the person’s business and the ML/TF risks of the person’s customers, in functions relevant to: (i) the person’s obligations under the Act; and (ii) providing registrable services; (g) whether any information given by the person, or if the registration is as a remittance affiliate of a registered remittance network provider, the provider, for the purposes of Part 6 or 6A of the Act in connection with that registration: (i) is false or misleading in a material particular; or (ii) omits any matter or thing without which the information is misleading in a material particular.

Approval of senior manager (1) For the purposes of paragraph 26F(3)(e) of the Act, the AML/CTF policies of a reporting entity must ensure that the approval of a senior manager of the reporting entity is obtained before the reporting entity does any of the following: (a) commences to provide a designated service to a customer, if the reporting entity has established on reasonable grounds that the customer, any beneficial owner of the customer or any person on whose behalf the customer is receiving the service is a foreign politically exposed person; (b) commences to provide a designated service to a customer, if: (i) the reporting entity has established on reasonable grounds that the customer, any beneficial owner of the customer or any person on whose behalf the customer is receiving the service is a domestic politically exposed person; and (ii) the ML/TF risk of the customer is high; (c) commences to provide a designated service to a customer, if: (i) the reporting entity has established on reasonable grounds that the customer, any beneficial owner of the customer or any person on whose behalf the customer is receiving the service is an international organisation politically exposed person; and (ii) the ML/TF risk of the customer is high; (e) commences to provide a designated service as part of a nested services relationship; (f) enters into an agreement or arrangement of the kind referred to in paragraph 37A(1)(a) of the Act as the first entity. (1A) For the purposes of paragraph 26F(3)(e) of the Act, the AML/CTF policies of a reporting entity must ensure that, if the reporting entity establishes on reasonable grounds that the customer, any beneficial owner of the customer or any person on whose behalf the customer is receiving a designated service: (a) has become a foreign politically exposed person; or (b) has become a domestic politically exposed person, or an international organisation politically exposed person, in circumstances where the ML/TF risk of the customer is high; a senior manager of the reporting entity will determine, as soon as practicable after the steps required by section 6‑24 of this instrument are completed, whether the reporting entity will continue a business relationship with the customer. (2) A foreign politically exposed person is to be treated as a domestic politically exposed person for the purposes of subsections (1) and (1A) if: (a) the designated service is being provided to the customer at or through a permanent establishment in a foreign country; and (b) the foreign politically exposed person has that status because of the person’s connection to the same foreign country. Informing senior manager (3) For the purposes of paragraph 26F(3)(e) of the Act, the AML/CTF policies of a reporting entity must ensure that a senior manager of the reporting entity is informed before the reporting entity commences to provide a designated service covered by item 39 of table 1 in section 6 of the Act to a customer if the ML/TF risk of the customer is high. Other actions requiring approval (4) For the purposes of paragraph 26F(3)(e) of the Act, the AML/CTF policies of a reporting entity must deal with: (a) circumstances (other than the circumstances mentioned in subsection (1)) in which approval is required relating to: (i) the reporting entity commencing to provide a designated service to a customer; or (ii) whether the reporting entity is to continue a business relationship with a customer; and (b) who is authorised to give the required approval in each of those circumstances. (5) Without limiting subsection (4), the polices must deal with circumstances in which the approval of a senior manager of the reporting entity is required if the customer, any beneficial owner of the customer or any person on whose behalf the customer is receiving a designated service was previously a politically exposed person.

Scope (1) This section applies if a reporting entity is to provide a designated service covered by item 29 of table 1 in section 6 of the Act as an ordering institution. Policies relating to all transfers of value (2) For the purposes of paragraph 26F(4)(g) of the Act, the AML/CTF policies of the reporting entity must set out systems and controls to enable the reporting entity to comply with its obligation under subsection 64(5) of the Act to provide information to another institution in the value transfer chain as soon as practicable after receiving a request. (3) For the purposes of paragraph 26F(7)(b) of the Act, the AML/CTF policies of a reporting entity are taken to comply with the matters mentioned in subsection (2) in relation to the provision of information if they require provision of the information within 3 business days after receiving sufficient information from the other institution to process the request. Policies relating to merchant payments (4) Subsection (5) applies if: (a) the designated service relates to a merchant payment; and (b) the designated service is provided at or through a permanent establishment of the reporting entity in Australia. (5) For the purposes of paragraph 26F(1)(d) of the Act, the AML/CTF policies of a reporting entity must enable the reporting entity to provide the following information to another institution in the value transfer chain within 3 business days after receiving a request from the institution for that information: (a) the reporting entity’s full name; (b) the permanent establishment at or through which it provided the designated service. Policies relating to virtual asset transfers (6) For the purposes of paragraph 26F(3)(e) of the Act, the AML/CTF policies of a reporting entity must deal with the following if the designated service relates to the transfer of a virtual asset: (a) how the reporting entity will undertake due diligence to determine, for the purposes of subsection 66A(2) of the Act: (i) whether the wallet to which the virtual asset is being transferred is a custodial wallet or a self‑hosted wallet; and (ii) if the wallet is a custodial wallet—whether the person who controls the wallet is required to be licensed or registered under a law that gives effect to the FATF Recommendations, and, if the person is so required, whether the person is so licensed or registered; (b) if the person who controls the wallet is a person licensed or registered under a law that gives effect to the FATF Recommendations, or a person not required to be so licensed or registered—how the reporting entity will determine whether the beneficiary institution is capable of: (i) securely receiving the information that the reporting entity is required to pass on under subsection 64(3) of the Act; and (ii) safeguarding the confidentiality of that information; (c) if the wallet is a self‑hosted wallet—how the reporting entity will identify the payee and any steps the reporting entity will take to verify the person who controls the wallet; (d) how the reporting entity will manage and mitigate the ML/TF risk of transferring the virtual asset if the person who controls the wallet is: (i) the payee (in a case where the person who controls the wallet has not been verified); or (ii) a person not required to be licensed or registered under a law that gives effect to the FATF Recommendations.

(1) This section applies in relation to complying with the obligation imposed on a reporting entity under subsection 28(1) of the Act in relation to a customer, if: (a) the customer is a body corporate, a partnership or an unincorporated association; and (b) a designated service is proposed to be provided by the reporting entity to the customer at or through a permanent establishment of the reporting entity in Australia. (2) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(a) (the identity of the customer), the reporting entity must collect at least the following KYC information: (a) the customer’s full name; (b) any business names of the customer; (c) any other names the customer is commonly known by; (d) a unique identifier for the customer (if any has been given); (e) the address of the principal place of business or operations of the customer; (f) the address of any registered office of the customer; (g) evidence of the customer’s existence; (h) information about the powers that bind and govern the customer; (i) the full name, and if applicable director identification number, of the individual, or each member of the group of individuals, with primary responsibility for the governance and executive decisions of the customer. (3) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(d) of the Act (the identity of any beneficial owners of the customer), the reporting entity must collect at least KYC information about the ownership and control structure of the customer. (4) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(f) of the Act (the nature and purpose of the business relationship or occasional transaction), the reporting entity must collect at least KYC information about the nature of the customer’s business or operations.

(1) This section applies in relation to complying with the obligation imposed on a reporting entity under subsection 28(1) of the Act in relation to a customer, if: (a) the customer is a trust, or an equivalent foreign legal arrangement such as a fiducie, waqf, treuhand or fideicomiso; and (b) a designated service is proposed to be provided by the reporting entity to the customer at or through a permanent establishment of the reporting entity in Australia. (2) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(a) (the identity of the customer), the reporting entity must collect at least the following KYC information: (a) the customer’s full name; (b) the kind of trust or equivalent (such as discretionary trust, bare trust or unit trust); (c) any business names of the customer; (d) any other names the customer is commonly known by; (e) a unique identifier for the customer (if any has been given); (f) the address of the principal place of business or operations of the customer; (g) evidence of the customer’s existence; (h) information about the powers that bind and govern the customer; (i) the full name of the individual, or each member of the group of individuals, with primary responsibility for the governance and executive decisions of the customer. (3) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(b) of the Act (the identity of any person on whose behalf the customer is receiving the designated service), the reporting entity must collect at least KYC information about: (a) the identity of each beneficiary of the trust or equivalent; or (b) if the nature of the trust or equivalent means it is not possible to identify each beneficiary, a description of each class of beneficiary. (4) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(c) of the Act, the reporting entity must collect at least KYC information about the identity of the trustees of the trust. (5) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(d) of the Act (the identity of any beneficial owners of the customer), the reporting entity must collect at least the following KYC information: (a) the control structure of the customer; (b) the identity of any settlor, appointor, guardian or protector of the trust or equivalent. (6) For the purposes of paragraph 28(6)(a) of the Act, in establishing on reasonable grounds the matter mentioned in paragraph 28(2)(f) of the Act (the nature and purpose of the business relationship or occasional transaction), the reporting entity must collect at least KYC information about the nature of the customer’s business or operations.

(1) For the purposes of paragraph 28(6)(b) of the Act, a reporting entity is taken to have established on reasonable grounds the matter mentioned in paragraph 28(2)(d) of the Act (the identity of any beneficial owners of the customer) in relation to the customer if the reporting entity has established on reasonable grounds that: (a) the customer is a listed public company; and (b) the customer is subject to public disclosure requirements (however imposed) that ensure transparency regarding the identity of any beneficial owners. (1A) For the purposes of paragraph 28(6)(b) of the Act, a reporting entity is taken to have established on reasonable grounds the matter mentioned in paragraph 28(2)(d) of the Act in relation to the customer if the reporting entity has established on reasonable grounds that the customer is a government body. (1B) For the purposes of paragraph 28(6)(b) of the Act, a reporting entity is taken to have established on reasonable grounds the matter mentioned in paragraph 28(2)(d) of the Act in relation to the customer if the reporting entity has established on reasonable grounds that the customer is controlled (whether directly or indirectly) by: (a) a listed public company that is subject to public disclosure requirements (however imposed) that ensure transparency regarding the identity of any beneficial owner of the company; or (b) a government body. (1C) For the purposes of paragraph 28(6)(b) of the Act, a reporting entity is taken to have established on reasonable grounds, for the purposes of paragraph 28(2)(d) of the Act, the identity of an individual who is a beneficial owner of the customer if: (a) the reporting entity has established on reasonable grounds that the customer is owned in part (whether directly or indirectly) by, but not controlled by: (i) a listed public company that is subject to public disclosure requirements (however imposed) that ensure transparency regarding the identity of any beneficial owner of the company; or (ii) a government body; and (b) the individual is a beneficial owner of: (i) the company mentioned in subparagraph (a)(i); or (ii) the body mentioned in subparagraph (a)(ii); and (c) the individual is a beneficial owner of the customer solely by reason of the ownership mentioned in paragraph (b). (2) In circumstances where subsection (1), (1A), (1B) or (1C) applies, the reporting entity is also taken to have established on reasonable grounds, for the purposes of paragraph 28(2)(e) of the Act, whether any beneficial owner of the customer is a politically exposed person or a person designated for targeted financial sanctions.

For the purposes of paragraph 28(2)(g) of the Act, the following matters are specified in relation to a customer of a reporting entity when a designated service is proposed to be provided to the customer as part of a nested services relationship: (a) the ownership, control and management structures of: (i) the customer; and (ii) the ultimate parent of the customer (if any); (b) the nature, size and complexity of the customer’s business, including: (i) the products and services offered by the customer, and the delivery channels by which it provides services; and (ii) the kinds of customers that the customer of the reporting entity has; and (iii) the kinds of transactions that would be carried out on behalf of the customer’s own customers as part of the nested services relationship and the services that would be provided to those customers that relate to such transactions; (c) the country or countries: (i) in which the customer operates or of which it is a resident; and (ii) if the ultimate parent of the customer (if any) has group‑wide anti‑money laundering and counter‑terrorism financing policies, procedures, systems and controls, and the customer operates within those group‑wide requirements—in which the ultimate parent operates or of which it is a resident; (d) the existence and quality of any anti‑money laundering and counter‑terrorism financing regulation and supervision in the country or countries identified under paragraph (c) and the customer’s compliance practices in relation to those regulations; (e) the appropriateness of the customer’s anti‑money laundering and counter‑terrorism financing systems and controls; (f) the reputation, based on publicly available information, of the customer and the members (if any) of the business group of which the customer is a member that are a remitter, virtual asset service provider or financial institution, including whether the customer or any of those members has been the subject of: (i) a regulatory investigation relating to implementation of anti‑money laundering, counter‑terrorism financing or sanctions obligations; or (ii) adverse regulatory action relating to implementation of anti‑money laundering, counter‑terrorism financing or sanctions obligations; or (iii) an investigation or criminal or civil proceedings relating to money laundering, financing of terrorism or other serious crimes; (g) whether the customer of the reporting entity: (i) would undertake initial customer due diligence and ongoing customer due diligence in relation to its own customers who would be provided services as part of the nested services relationship; and (ii) would be able to provide to the reporting entity, on request, information collected when the customer of the reporting entity undertakes initial customer due diligence and ongoing customer due diligence in relation to its own customers, and the reliable and independent data used to verify the information; (h) whether the customer allows shell banks to receive services; (i) whether the customer of the reporting entity ensures that it does not provide services to its own customers in circumstances where those customers have a nested services relationship or correspondent banking relationship with a shell bank.

(1) For the purposes of paragraph 37A(1)(b) of the Act, the following requirements are prescribed in relation to an agreement or arrangement of the kind referred to in paragraph 37A(1)(a) of the Act: (a) the other party to the agreement or arrangement must be: (i) a reporting entity; or (ii) a person regulated by one or more laws of a foreign country that give effect to the FATF Recommendations relating to customer due diligence and record‑keeping; (ab) the other person has in place measures to ensure compliance with: (i) if the other person is a reporting entity—the other person’s obligations under Part 2 (Customer due diligence) and Part 10 (Record‑keeping requirements) of the Act; or (ii) if the other person is a person mentioned in subparagraph (a)(ii)—the equivalent laws of the foreign country; (b) the agreement or arrangement must be appropriate to the risks of money laundering, financing of terrorism and proliferation financing that the first entity may reasonably face in providing its designated services, taking into account the matters mentioned in subsection (2) of this section; (c) the agreement or arrangement must enable the first entity to obtain all of the KYC information collected by the other person in accordance with paragraph 28(3)(c) of the Act: (i) before the first entity commences to provide a designated service; or (ii) if section 29 of the Act applies to the provision of a designated service—within the period mentioned in paragraph 29(c) of the Act; (d) the agreement or arrangement must enable the first entity to obtain copies of the data used by the other person to verify KYC information in accordance with paragraph 28(3)(d) of the Act immediately or as soon as practicable following a request from the first entity; (e) the agreement or arrangement must document the responsibilities of each party, including responsibilities for record‑keeping. (2) For the purposes of paragraph (1)(b), the matters are as follows: (a) the nature, size and complexity of the other person’s business, including: (i) the products and services offered by the other person, and the delivery channels by which it provides services; and (ii) the kinds of customers that the other person has; (b) the level of the risks of money laundering, financing of terrorism and proliferation financing in the country or countries in which the other person operates or of which the other person is a resident.

For the purposes of paragraph 38(e) of the Act, the following requirements are prescribed: (a) the other person must be: (i) a reporting entity; or (ii) a person regulated by one or more laws of a foreign country that give effect to the FATF Recommendations relating to customer due diligence and record‑keeping; (ab) the other person has in place measures to ensure compliance with: (i) if the other person is a reporting entity—the other person’s obligations under Part 2 (Customer due diligence) and Part 10 (Record‑keeping requirements) of the Act; or (ii) if the other person is a person mentioned in subparagraph (a)(ii)—the equivalent laws of the foreign country; (b) reliance on that procedure must be appropriate to the risks of money laundering, financing of terrorism and proliferation financing that the first entity may reasonably face in providing its designated services, taking into account: (i) the nature, size and complexity of the other person’s business; and (ii) the kinds of services provided by the other person; and (iii) the kinds of customers to whom the other person’s services are provided; and (iv) the delivery channels by which the other person’s services are provided; and (v) the level of the risks of money laundering, financing of terrorism and proliferation financing in the country or countries in which the other person operates or of which the other person is a resident; (c) for compliance with paragraph 28(3)(c) of the Act—the first entity has reasonable grounds to believe that it can obtain all of the KYC information collected by the other person in accordance with that paragraph: (i) before the first entity commences to provide a designated service; or (ii) if section 29 of the Act applies to the provision of a designated service—within the period mentioned in paragraph 29(c) of the Act; (d) for compliance with paragraph 28(3)(d) of the Act—the first entity has reasonable grounds to believe that it can obtain copies of the data used by the other person to verify KYC information in accordance with that paragraph immediately or as soon as practicable following a request from the first entity; (e) the first entity documents the reasons for the first entity concluding that the requirements of paragraphs (b) to (d) of this section are met.

Permitted circumstances (1) For the purposes of paragraph 29(a) of the Act, a reporting entity may commence to provide a designated service to a customer (subject to the requirements of section 29 of the Act and this section) if: (a) the designated service is covered by item 1 of table 5 in section 6 of the Act (brokering the sale, purchase or transfer of real estate); and (b) the customer is the buyer or transferee of the real estate; and (c) the designated service is provided at or through a permanent establishment of the reporting entity in Australia; and (d) the reporting entity has commenced to provide a designated service covered by item 1 of table 5 in section 6 of the Act to the seller or transferor of the real estate. (2) For the purposes of paragraph 29(a) of the Act, a reporting entity may commence to provide a designated service to a customer (subject to the requirements of section 29 of the Act and this section) if: (a) the designated service is covered by item 1 of table 5 in section 6 of the Act (brokering the sale, purchase or transfer of real estate); and (b) the customer is the seller or transferor of the real estate; and (c) the designated service is provided at or through a permanent establishment of the reporting entity in Australia; and (d) the reporting entity has commenced to provide a designated service covered by item 1 of table 5 in section 6 of the Act to the buyer or transferee of the real estate. (3) For the purposes of paragraph 29(a) of the Act a reporting entity may commence to provide a designated service to a customer (subject to the requirements of section 29 of the Act and this section) if: (a) the designated service is covered by item 1 of table 6 in section 6 of the Act (assisting a person in a transaction to sell, buy or otherwise transfer real estate); and (b) the customer is or is to be the buyer or transferee in the transaction; and (c) the designated service is provided at or through a permanent establishment of the reporting entity in Australia. Specified period (4) For the purposes of subparagraph 29(c)(ii) of the Act, in each of the circumstances mentioned in subsections (1) to (3) of this section the specified period is the period ending at the earlier of: (a) 28 days after the exchange of contracts for the sale, purchase or transfer; and (b) 3 days before the initially agreed day for the settlement of the sale, purchase or transfer of the real estate.

Reliance on arrangement for collecting and verifying KYC information (1) For the purposes of paragraph 28(6)(b) of the Act, a reporting entity is taken to have established on reasonable grounds a matter mentioned in paragraph 28(2)(b), (d), (e) or (g) of the Act in relation to a customer if: (a) the only kind of designated service the reporting entity is proposing to provide to the customer is a designated service covered by: (i) item 1 of table 5 in section 6 of the Act (brokering the sale, purchase or transfer of real estate); or (ii) item 1 of table 6 in section 6 of the Act (assisting a person in a transaction to sell, buy or otherwise transfer real estate); and (b) the designated service is proposed to be provided by the reporting entity to the customer at or through a permanent establishment of the reporting entity in Australia; and (c) where the customer is an individual—the reporting entity has taken reasonable steps to establish that the customer is the person the customer claims to be; and (d) the reporting entity has identified the ML/TF risk of the customer, based on KYC information about the customer that is reasonably available to the reporting entity before commencing to provide the designated service; and (e) the reporting entity has collected KYC information about the customer relating to the matter that is appropriate to the ML/TF risk of the customer; and (f) the reporting entity is a participant in an arrangement in which another participating reporting entity that will provide a designated service related to the sale, purchase or transfer of the real estate will be able to collect and verify KYC information about the customer in accordance with paragraphs 28(3)(c) and (d) of the Act no later than 28 days after the exchange of contracts for the sale, purchase or transfer; and (g) the arrangement enables the reporting entity to obtain the KYC information collected by another participating reporting entity, and copies of the data used by the other entity to verify the KYC information, at least 3 days before the initially agreed day for the settlement of the sale, purchase or transfer; and (h) the arrangement documents the responsibilities of each participant, including responsibilities for record‑keeping.

For the purposes of paragraph 30(3)(b) of the Act, a reporting entity is taken to comply with the matter mentioned in paragraph 30(2)(a) of the Act if: (a) the reporting entity monitors its customers in relation to the provision of its designated services for unusual transactions and behaviours that may give rise to a suspicious matter reporting obligation because of the operation of paragraphs 41(1)(d) to (j) of the Act (other than subparagraph 41(1)(f)(iii)); and (b) the reporting entity monitors its customers in relation to the provision of its designated services for unusual transactions and behaviours that may give rise to a suspicious matter reporting obligation because of the operation of subparagraph 41(1)(f)(iii) of the Act in relation to an offence against the Act, the regulations, or a law of the Commonwealth or of a State or Territory of any of the following kinds: (i) money laundering; (ii) financing of terrorism; (iii) proliferation financing; (iiia) offences relating to the breach of sanctions; (iv) participation in organised crime or racketeering; (v) terrorism; (va) offences involving prohibited hate groups; (vi) human trafficking or people smuggling; (vii) sexual exploitation (including exploitation of children); (viii) trafficking of illicit substances; (ix) arms trafficking; (x) other goods trafficking (including stolen goods); (xi) corruption; (xii) bribery; (xiii) counterfeiting currency; (xiv) fraud (including identity theft and scams); (xv) counterfeiting or piracy of products; (xvi) crimes relating to taxation; (xvii) extortion; (xviii) forgery; (xix) piracy; (xx) insider trading and market manipulation; (xxi) environmental crime; (xxii) robbery or theft; (xxiii) kidnapping, illegal restraint or taking hostages; (xxiv) smuggling (including offences in relation to customs and excise); (xxv) murder or grievous bodily harm; (xxvi) cybercrime; (xxvii) any other kind of offence that the reporting entity has identified in its AML/CTF program as presenting a high risk in relation to the occurrence of money laundering.

(a) the customer’s address; and
(b) bank account details of the customer; and
(c) the wallet address for the customer’s virtual asset holdings.

(1) For the purposes of paragraph 96(1)(a) of the Act, this section sets out requirements for the due diligence assessment to be carried out by a financial institution (the correspondent) in relation to an entry into a correspondent banking relationship with another financial institution (the respondent) that will involve a vostro account. (2) The due diligence assessment required to be carried out is an assessment of the risks of money laundering, financing of terrorism, proliferation financing and other serious crimes associated with the entry into the correspondent banking relationship. (3) In carrying out the due diligence assessment, the correspondent must consider the following matters: (a) the ownership, control and management structures of: (i) the respondent; and (ii) the ultimate parent of the respondent (if any); (b) the nature, size and complexity of the respondent’s business, including: (i) the products and services offered by the respondent, and the delivery channels by which it provides services; and (ii) the kinds of customers that the respondent has; and (iii) the kinds of transactions that would be carried out on behalf of the respondent’s customers as part of the correspondent banking relationship and the services that would be provided to the respondent’s customers that relate to such transactions; (c) the country or countries: (i) in which the respondent operates or of which it is a resident; and (ii) if the ultimate parent of the respondent (if any) has group‑wide anti‑money laundering and counter‑terrorism financing systems and controls, and the respondent operates within the requirements of those controls—in which the ultimate parent operates or of which it is a resident; (d) the existence and quality of any anti‑money laundering and counter‑terrorism financing regulation and supervision in the country or countries identified under paragraph (c) and the respondent’s compliance practices in relation to those regulations; (e) the appropriateness of the respondent’s anti‑money laundering and counter‑terrorism financing policies, procedures, systems and controls; (f) publicly available information relating to the reputation of the respondent and the members (if any) of the business group of which the respondent is a member that are a remitter, virtual asset service provider or financial institution, including whether the respondent or any of those members has been the subject of: (i) a regulatory investigation relating to implementation of anti‑money laundering, counter‑terrorism financing or sanctions obligations; or (ii) adverse regulatory action relating to implementation of anti‑money laundering, counter‑terrorism financing or sanctions obligations; or (iii) an investigation or criminal or civil proceedings relating to money laundering, financing of terrorism or other serious crimes; (g) if the correspondent is to maintain vostro accounts that can be accessed directly by the customers of the respondent (payable‑through accounts)—whether the respondent: (i) would undertake initial customer due diligence and ongoing customer due diligence in relation to those customers; and (ii) would be able to provide to the correspondent, on request, information collected when the respondent undertakes initial customer due diligence and ongoing customer due diligence in relation to those customers and the reliable and independent data used to verify the information.

<table cellspacing="0" cellpadding="0" style="width:100%; border-collapse:collapse"><thead><tr><td colspan="4" style="border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Obligations of ordering institutions—collecting, verifying and passing on information</span></p></td><td style="width:25.44%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span></span></p></td></tr><tr><td style="width:8.54%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:21.92%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 1</span></p></td><td style="width:22.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 2</span></p></td><td style="width:22.06%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 3</span></p></td><td style="width:25.44%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 4</span></p></td></tr><tr><td style="width:8.54%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span></span></p></td><td style="width:21.92%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Circumstances</span></p></td><td style="width:22.04%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Information to be collected</span></p></td><td style="width:22.06%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Information to be verified</span></p></td><td style="width:25.44%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Information to be passed on</span></p></td></tr></thead><tbody><tr><td style="width:8.54%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:21.92%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>none of the circumstances mentioned in items</span><span> </span><span>2 to 7 apply</span></p></td><td style="width:22.04%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) the payee’s full name</span></p></td><td style="width:22.06%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>payer information</span></p></td><td style="width:25.44%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) the payee’s full name; and</span></p><p class="Tabletext"><span>(c) tracing information</span></p></td></tr><tr><td style="width:8.54%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:21.92%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the transfer of value is a domestic transfer of value; and</span></p><p class="Tablea"><span>(b) the ordering institution passes on the transfer message for the transfer of value through BECS, BPAY or DEFT</span></p></td><td style="width:22.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) the payee’s full name</span></p></td><td style="width:22.06%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>payer information</span></p></td><td style="width:25.44%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>tracing information</span></p></td></tr><tr><td style="width:8.54%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:21.92%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the transfer message for the transfer of value contains information relating to multiple transfers of value from a payer; and</span></p><p class="Tablea"><span>(b) the circumstances mentioned in item</span><span> </span><span>2 do not apply</span></p></td><td style="width:22.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) the payee’s full name</span></p></td><td style="width:22.06%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>payer information</span></p></td><td style="width:25.44%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) for each transfer of value in the transfer message:</span></p><p class="Tablei"><span>(i) the payee’s full name; and</span></p><p class="Tablei"><span>(ii) tracing information</span></p></td></tr><tr><td style="width:8.54%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:21.92%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the transfer of value is a merchant payment</span></p></td><td style="width:22.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>not applicable</span></p></td><td style="width:22.06%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>not applicable</span></p></td><td style="width:25.44%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment</span></p></td></tr><tr><td style="width:8.54%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>5</span></p></td><td style="width:21.92%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the transfer of value is a refund of a merchant payment</span></p></td><td style="width:22.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>not applicable</span></p></td><td style="width:22.06%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>not applicable</span></p></td><td style="width:25.44%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment that is refunded</span></p></td></tr><tr><td style="width:8.54%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>6</span></p></td><td style="width:21.92%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a)</span><span style="width:3.1pt; text-indent:0pt; display:inline-block"> </span><span>the transfer of value is the withdrawal of money from an account held with a financial institution; and</span></p><p class="Tablea"><span>(b)</span><span style="width:2.54pt; text-indent:0pt; display:inline-block"> </span><span>the instruction for the transfer is given by the use of an ATM; and</span></p><p class="Tablea"><span>(c)</span><span style="width:3.1pt; text-indent:0pt; display:inline-block"> </span><span>the value will be made available to the payee as physical currency</span></p></td><td style="width:22.04%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the payer’s full name</span></p></td><td style="width:22.06%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the payer’s full name</span></p></td><td style="width:25.44%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the withdrawal</span></p></td></tr><tr><td style="width:8.54%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>7</span></p></td><td style="width:21.92%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the value is being transferred to a self</span><span>‑</span><span>hosted virtual asset wallet</span></p></td><td style="width:22.04%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) the payee’s full name</span></p></td><td style="width:22.06%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>payer information</span></p></td><td style="width:25.44%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>not applicable</span></p></td></tr></tbody></table>

<table cellspacing="0" cellpadding="0" style="width:100%; border-collapse:collapse"><thead><tr><td colspan="3" style="border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Obligations of beneficiary institutions—monitoring for receipt of information</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:45.7%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Colum 1</span></p></td><td style="width:45.72%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 2</span></p></td></tr><tr><td style="width:8.58%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span></span></p></td><td style="width:45.7%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Circumstances</span></p></td><td style="width:45.72%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Information to monitor</span></p></td></tr></thead><tbody><tr><td style="width:8.58%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:45.7%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>none of the circumstances mentioned in items</span><span> </span><span>2 to 8 apply</span></p></td><td style="width:45.72%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tabletext"><span>(b) the payee’s full name; and</span></p><p class="Tabletext"><span>(c) tracing information</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:45.7%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the transfer of value is a domestic transfer of value; and</span></p><p class="Tablea"><span>(b) the beneficiary institution receives the transfer message for the transfer of value through BECS, BPAY or DEFT</span></p></td><td style="width:45.72%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>tracing information</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:45.7%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the transfer message for the transfer of value contains information relating to multiple transfers of value from a payer; and</span></p><p class="Tablea"><span>(b) the circumstances mentioned in item</span><span> </span><span>2 do not apply</span></p></td><td style="width:45.72%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) for each transfer of value in the transfer message:</span></p><p class="Tablei"><span>(i) the payee’s full name; and</span></p><p class="Tablei"><span>(ii) tracing information</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:45.7%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the transfer of value is a merchant payment</span></p></td><td style="width:45.72%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>5</span></p></td><td style="width:45.7%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the transfer of value is a refund of a merchant payment</span></p></td><td style="width:45.72%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment that is refunded</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>6</span></p></td><td style="width:45.7%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a)</span><span style="width:3.1pt; text-indent:0pt; display:inline-block"> </span><span>the transfer of value is the withdrawal of money from an account held with a financial institution; and</span></p><p class="Tablea"><span>(b)</span><span style="width:2.54pt; text-indent:0pt; display:inline-block"> </span><span>the instruction for the transfer is given by the use of an ATM; and</span></p><p class="Tablea"><span>(c)</span><span style="width:3.1pt; text-indent:0pt; display:inline-block"> </span><span>the value will be made available to the payee as physical currency</span></p></td><td style="width:45.72%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the withdrawal</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>7</span></p></td><td style="width:45.7%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the value being transferred is money; and</span></p><p class="Tablea"><span>(b) the money is in a foreign country and, as a result of the provision of an international value transfer service, the money will be in Australia; and</span></p><p class="Tablea"><span>(c) the beneficiary institution receives the transfer message for the transfer of value through BECS</span></p></td><td style="width:45.72%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>tracing information</span></p></td></tr><tr><td style="width:8.58%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>8</span></p></td><td style="width:45.7%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the value is transferred from a self</span><span>‑</span><span>hosted virtual asset wallet</span></p></td><td style="width:45.72%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tabletext"><span>(b) the payee’s full name; and</span></p><p class="Tabletext"><span>(c) tracing information</span></p></td></tr></tbody></table>

<table cellspacing="0" cellpadding="0" style="width:100%; border-collapse:collapse"><thead><tr><td colspan="4" style="border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Obligations of intermediary institutions—monitoring for receipt of information and passing on information</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Item</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 1</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 2</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Column 3</span></p></td></tr><tr><td style="width:8.4%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span></span></p></td><td style="width:31.56%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Circumstances</span></p></td><td style="width:30.02%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Information to monitor</span></p></td><td style="width:30.02%; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="TableHeading"><span>Information to pass on</span></p></td></tr></thead><tbody><tr><td style="width:8.4%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:31.56%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>none of the circumstances mentioned in items</span><span> </span><span>2 to 7 apply</span></p></td><td style="width:30.02%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) the payee’s full name; and</span></p><p class="Tabletext"><span>(c) tracing information</span></p></td><td style="width:30.02%; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>(a) payer information, and</span></p><p class="Tablea"><span>(b) the payee’s full name; and</span></p><p class="Tabletext"><span>(c) tracing information</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the transfer of value is a domestic transfer of value; and</span></p><p class="Tablea"><span>(b) the transfer message for the transfer of value is passed on through BECS, BPAY or DEFT</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>tracing information</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>tracing information</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the transfer message for the transfer of value contains information relating to multiple transfers of value from a payer; and</span></p><p class="Tablea"><span>(b) the circumstances mentioned in item</span><span> </span><span>2 do not apply</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information, and</span></p><p class="Tablea"><span>(b) for each transfer of value in the transfer message:</span></p><p class="Tablei"><span>(i) the payee’s full name; and</span></p><p class="Tablei"><span>(ii) tracing information</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information, and</span></p><p class="Tablea"><span>(b) for each transfer of value in the transfer message:</span></p><p class="Tablei"><span>(i) the payee’s full name; and</span></p><p class="Tablei"><span>(ii) tracing information</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the transfer of value is a merchant payment</span></p><p class="Tablea"><span></span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment</span></p><p class="Tabletext"><span></span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>5</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>the transfer of value is a refund of a merchant payment</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment that is refunded</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the merchant payment that is refunded</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>6</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a)</span><span style="width:3.1pt; text-indent:0pt; display:inline-block"> </span><span>the transfer of value is the withdrawal of money from an account held with a financial institution; and</span></p><p class="Tablea"><span>(b)</span><span style="width:2.54pt; text-indent:0pt; display:inline-block"> </span><span>the instruction for the transfer is given by the use of an ATM; and</span></p><p class="Tablea"><span>(c)</span><span style="width:3.1pt; text-indent:0pt; display:inline-block"> </span><span>the value will be made available to the payee as physical currency</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the withdrawal</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>card number of the card the payer used in relation to the withdrawal</span></p></td></tr><tr><td style="width:8.4%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span>7</span></p></td><td style="width:31.56%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) the value being transferred is money; and</span></p><p class="Tablea"><span>(b) the money is in a foreign country and, as a result of the provision of an international value transfer service, the money will be in Australia; and</span></p><p class="Tablea"><span>(c) the intermediary institution passes on the transfer message for the transfer of value through BECS</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>(a) payer information; and</span></p><p class="Tablea"><span>(b) the payee’s full name; and</span></p><p class="Tabletext"><span>(c) tracing information</span></p></td><td style="width:30.02%; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea"><span>tracing information</span></p></td></tr></tbody></table>

(1) The report must contain the following information: (a) the reporting entity’s full name and the identifier assigned to the entity by AUSTRAC; (b) the date the report is given to the AUSTRAC CEO; (c) the date the suspicious matter reporting obligation arose for the reporting entity; (d) whether paragraph 41(2)(aa) of the Act (which deals with the timeframe for giving a report in certain circumstances relating to legal professional privilege) applies in relation to the report; (e) if the reporting entity considers that a report it has previously given to the AUSTRAC CEO under the Act (the previous report) is relevant to the matter—the following information about the previous report: (i) the date the previous report was given to the AUSTRAC CEO; (ii) the identifier given to the previous report by AUSTRAC (if any). Information about the individual completing the report (2) The report must contain the following information about the individual completing the report: (a) the individual’s full name; (b) the individual’s position with the reporting entity; (c) the individual’s contact details. Information about an individual with information about the formation of the suspicion (3) The report must contain the following information about an individual who can provide information about the reporting entity forming the suspicion mentioned in any of paragraphs 41(1)(d) to (j) of the Act that apply to the matter: (a) the individual’s full name; (b) the individual’s position with the reporting entity; (c) the individual’s contact details. Information about report to Commonwealth, State or Territory agencies (4) If the matter has been reported to a Commonwealth, State or Territory agency, the report must include the following information: (a) the name of the agency; (b) the part of, or unit in, the agency the matter was reported to (to the extent that the information is known); (c) the identifier given to the matter by the agency (if any); (d) the full name and contact details of an individual at the agency who can be contacted in relation to the report made to the agency (to the extent that the information is known, and subject to the agency’s requirements about disclosure of these details); (e) a description of the information about the matter provided to the agency; (f) the date the matter was reported to the agency.

Reportable information—individuals (1) A reference in this section to reportable information means, in relation to an individual, the following information: (a) the individual’s full name; (b) any other names the individual is commonly known by (such as an Anglicised name, former name or business name); (c) the individual’s date of birth; (d) the individual’s gender; (e) the country or countries of which the individual is a citizen; (f) the country or countries the individual is treated as being a resident of for the purposes of that country’s tax laws; (g) the individual’s residential address; (h) the individual’s postal addresses; (i) if the individual is a sole trader—the individual’s business addresses; (j) the individual’s telephone number; (k) the individual’s email address; (l) information on the individual’s occupation, business or principal activity; (m) a unique identifier for the individual; (n) a description of the reliable and independent data, if any, used by the reporting entity to verify KYC information relating to the individual in accordance with paragraph 28(3)(d) of the Act; (o) a reference number, if any, associated with the individual provided by an accredited entity (within the meaning of the Digital ID Act 2024) in the course of verifying KYC information relating to the individual in accordance with paragraph 28(3)(d) of the Act; (p) if the individual’s identity cannot be established by the reporting entity—the following information: (i) a description of the individual; (ii) whether any still or moving image or any recording of the individual is held by the reporting entity. Reportable information—non‑individuals (2) A reference in this section to reportable information means, in relation to a person who is not an individual, the following information: (a) the person’s full name; (b) other names used by the person (such as a former name or business name); (c) the country or countries in which the person was incorporated, formed or registered; (d) the country or countries the person is treated as being a resident of for the purposes of that country’s tax laws; (e) the address of the person’s registered office; (f) the address at which the person’s business or principal activity is conducted; (g) the person’s postal address; (h) the person’s telephone number; (i) the person’s email address; (j) information on the person’s business or principal activity; (k) information about the legal form of the person (such as a partnership, company or trust); (l) the details of the person’s beneficial owners; (m) if the person is a body corporate—the full name and, if applicable, director identification number of the individual, or each member of the group of individuals, with primary responsibility for the governance and executive decisions of the body corporate; (n) if the person is an express trust, the following information: (i) the kind of trust (such as discretionary trust, bare trust or unit trust); (ii) the details of the trustee; (iii) the details of any settlor, appointor, guardian or protector of the trust; (iv) for a trust with no more than 10 identifiable beneficiaries—the details of the beneficiaries of the trust; (v) for a trust with more than 10 beneficiaries—a description of each type or class of beneficiary; (o) a unique identifier for the person; (p) a description of the reliable and independent data, if any, used by the reporting entity to verify KYC information relating to the person in accordance with paragraph 28(3)(d) of the Act. Content of suspicious matter reports (3) The report must contain the following information, to the extent it is applicable and known to the reporting entity: (a) reportable information about the person in relation to whom the suspicious matter reporting obligation arose for the reporting entity; (b) information on the person’s involvement in the matter. (4) If the report is required to contain the details of another person (for example, a beneficial owner or trust) as part of the reportable information under subsection (1) or (2), then the report must also contain: (a) reportable information about that other person; and (b) if the application of paragraph (a) requires the report to contain the details of any other individual or non‑individual—reportable information about that other individual or non‑individual. Information about involved persons (5) Each of the following persons is an involved person in relation to the provision of a designated service for the purposes of subsections (6) and (7): (a) a person (other than the person in relation to whom the suspicious matter reporting obligation arose) who is involved in facilitating, funding, contributing to, or benefitting from, the matter the subject of the report; (b) a person who is adversely affected or impacted by the matter; (c) a person on whose behalf the customer is receiving the designated service; (d) a person acting on behalf of the customer in relation to the designated service. (6) The report must contain reportable information about the involved person to the extent that: (a) the information is applicable and known to the reporting entity; and (b) the information has not already been reported under subsection (3) or (4). (7) The report must also contain, to the extent it is known to the reporting entity, a description of the relationship between the involved person and the person in relation to whom the suspicious matter reporting obligation arose.

(1) The report must contain the following information about the matter: (a) a description of the circumstances in paragraphs 41(1)(a) to (c) of the Act that apply to the matter; (b) a description of the conditions in paragraphs 41(1)(d) to (j) of the Act that are satisfied in respect of the matter, and how those conditions relate to the persons about whom information is included in the report; (c) the following circumstances in relation to the matter: (i) if paragraph 41(1)(a) of the Act applies in relation to the matter—the date and time the reporting entity commenced to provide, or proposed to provide, the designated service to the first person; (ii) if paragraph 41(1)(b) of the Act applies in relation to the matter—the date and time the first person requested the reporting entity to provide the designated service to the first person; (iii) if paragraph 41(1)(c) of the Act applies in relation to the matter—the date and time the first person inquired of the reporting entity whether the reporting entity would be willing or prepared to provide the designated service to the first person; (d) if the conditions in subparagraph 41(1)(f)(iii) of the Act are satisfied in respect of the matter—information on the offence against a law of the Commonwealth or of a State or Territory that is relevant to the matter; (e) any addresses or locations that are relevant to the matter; (f) the reporting entity’s reference number relating to the provision or proposed provision of the designated service to which the matter relates. Information about designated services (2) The report must contain a description of each designated service that relates to the matter. Information about an account (3) If the matter involves an account provided by the reporting entity or another person, the report must contain the following information about the account (as applicable and to the extent that the information is known): (a) the full name of the person providing the account; (b) the information about the account holder that would be required under subsection 9‑3(3) if the account holder were the person in relation to whom the suspicious matter reporting obligation arose; (c) the kind of account (such as a savings account, loan account or credit card account); (d) the unique identification details assigned to the account (such as the BSB and account number); (e) for each signatory to whom the matter relates—the information that would be required under subsection 9‑3(3) if the signatory were the person in relation to whom the suspicious matter reporting obligation arose; (f) the full name of the other signatories to the account or, if there are more than 10 signatories, a description of each type or class of signatory; (f) the date the account was opened; (g) the balance of the account on dates relevant to the matter. Information about transactions (4) If the matter involves transactions, the report must contain the following information about each transaction (as applicable and to the extent that the information is known): (a) a description of the transaction; (b) the value associated with the transaction (in Australian dollars or a foreign currency, as appropriate); (c) if the transaction involved foreign currency—the kind and amount of the foreign currency involved and the exchange rate used; (d) if the transaction involves products or instruments—the following information: (i) a description of the products or instruments; (ii) the value of the products or instruments (in Australian dollars or a foreign currency, as appropriate); (iii) for each payer or transferor of the products or instruments—the information that would be required under subsection 9‑3(3) if the payer or transferor were the person in relation to whom the suspicious matter reporting obligation arose; (vi) where the issuer of the products or instruments is not the reporting entity—the full name of the issuer and the address or location where the products or instruments were issued; (e) for each payee, transferee or beneficiary of the transaction—the information that would be required under subsection 9‑3(3) if that person were the person in relation to whom the suspicious matter reporting obligation arose; (f) the date and time when the transaction took place; (g) if the transaction is a transfer of value—the following information: (i) the value of the money, virtual assets or property that is the subject of the transfer of value (in Australian dollars or a foreign currency, as appropriate); (ii) a unique transaction reference number.

(a) a cheque or travellers cheque;
(b) a stored value card;
(c) a precious metal;
(d) a gaming chip or token.

(a) for real estate—the plan and lot numbers for the real estate; and
(b) for bullion—the serial number on the bullion.

Information about virtual assets (6) If the matter involves virtual assets, the report must contain the following information about the virtual assets (as applicable and to the extent that the information is known): (a) information on the kind of virtual assets, including details of the backing asset (if any); (b) the full name of any person who controls, or controlled, the virtual asset (including a decentralised autonomous organisation, if applicable); (c) the full name of any person in whose name the assets are, or were, held; (d) the number of virtual asset units; (e) the value of the virtual assets in Australian dollars; (f) the exchange rate used in determining the value; (g) the unique transaction reference number, including a transaction hash; (h) any virtual asset wallet addresses, including destination tags or memo details. Information about another person providing a designated service (7) If a person other than the reporting entity provided or proposed to provide a designated service that relates to the matter, the report must contain the following information about the person (to the extent that the information is known): (a) the full name of the person; (b) the address or location where the person provided or proposed to provide a designated service that relates to the matter; (c) the kind of designated service provided or proposed to be provided by the person. Information about online activity (8) If the matter involves online activity by any person involved in the matter, including for the purpose of providing a designated service, the report must contain the following information about the online activity (as applicable and to the extent that the information is known): (a) unique network identification numbers for the networks used by the person, such as an Internet Protocol (IP) address; (b) the date and time that online activity was recorded occurring, if different from the date and time when a transaction took place as reported under subsection (4); (c) unique identification numbers for the relevant devices involved, such as an International Mobile Equipment Identity (IMEI); (d) a description of the software or application being used by the person; (e) the full name, and any user name, used by the person for the purposes of the software or application.

Reportable information—individuals (1) A reference in this section to reportable information means, in relation to an individual, the following information: (a) the individual’s full name; (b) any other names the individual is commonly known by (such as an Anglicised name, former name or business name); (c) the individual’s date of birth; (d) the individual’s gender; (e) the country or countries of which the individual is a citizen; (f) the country or countries the individual is treated as being a resident of for the purposes of that country’s tax laws. (g) the individual’s residential address; (h) the individual’s business addresses and postal addresses; (i) the individual’s telephone number; (j) the individual’s email address; (k) information on the individual’s occupation, business or principal activity; (l) a unique identifier for the individual; (m) a description of the reliable and independent data, if any, used by the reporting entity to verify KYC information relating to the individual in accordance with paragraph 28(3)(d) of the Act; (n) a reference number, if any, associated with the individual provided by an accredited entity (within the meaning of the Digital ID Act 2024) in the course of verifying KYC information relating to the individual in accordance with paragraph 28(3)(d) of the Act. Reportable information—non‑individuals (2) A reference to reportable information in this section means, in relation to a person who is not an individual, the following information: (a) the person’s full name; (b) other names used by the person (such as a former name or business name); (c) the country or countries in which the person was incorporated, formed or registered; (d) the country or countries the person is treated as being a resident of for the purposes of that country’s tax laws; (e) the address of the customer’s registered office; (f) the address at which the person’s business or principal activity is conducted; (g) the person’s postal address; (h) the person’s telephone number; (i) the person’s email address; (j) information on the person’s business or principal activity; (k) information about the legal form of the person (such as a partnership, company or trust); (l) the details of the person’s beneficial owners; (m) if the person is a body corporate—the full name and, if applicable, director identification number of the individual, or each member of the group of individuals, with primary responsibility for the governance and executive decisions of the body corporate; (n) if the person is an express trust, the following information: (i) the kind of trust (such as discretionary trust, bare trust or unit trust); (ii) the details of the trustee; (iii) the details of any settlor, appointor, guardian or protector of the trust; (iv) for a trust with no more than 10 identifiable beneficiaries—the details of the beneficiaries of the trust; (v) for a trust with more than 10 beneficiaries—a description of each type or class of beneficiary; (o) a unique identifier for the person; (p) a description of the reliable and independent data, if any, used by the reporting entity to verify KYC information relating to the customer in accordance with paragraph 28(3)(d) of the Act. Content of threshold transaction reports (3) The report must contain reportable information, to the extent it is applicable and known to the reporting entity, about the following persons: (a) the customer to whom the designated service was provided; (b) the transferor or transferee in the transaction (if different to the customer); (c) if the customer received the designated service on behalf of another person—that other person. (4) If the report is required to contain the details of another person (for example, a beneficial owner or trust) as part of the reportable information under subsection (1) or (2), then the report must also contain: (a) reportable information about that other person; and (b) if the application of paragraph (a) requires the report to contain the details of any other individual or non‑individual—reportable information about that other individual or non‑individual. Information about other persons acting on behalf of the customer (5) If the customer was represented in relation to the provision of the designated service by another person authorised to act on behalf of the customer, the report must (subject to subsections (6) and (7)) contain the following information: (a) a description of the relationship between the person and the customer; (b) a description of the authority for the person to act on behalf of the customer; (c) reportable information about the person. (6) Subsection (5) does not apply if the customer was represented by a person in the following circumstances: (a) the threshold transaction was a deposit in circumstances where there was no personal contact (such as using an automated teller machine or express deposit facility); (b) the transaction did not involve a virtual asset; (c) the person was acting in the course of a business of collecting, holding or delivering physical currency (such as payroll or cash courier services, but not including collection of donations for a registered charity). (7) If subsection (5) does not apply because the designated service occurred in the circumstances mentioned in subsection (6), the report must contain a statement as to the circumstances of the designated service.

(a) a cheque or travellers cheque;
(b) a stored value card;
(c) a precious metal;
(d) a gaming chip or token.

(a) for real estate—the plan and lot numbers for the real estate; and
(b) for bullion—the serial number on the bullion.

Information about virtual assets (5) If the threshold transaction relates to virtual assets, the report must contain the following information about the virtual assets (as applicable and to the extent that the information is known): (a) information on the kind of virtual assets, including details of the backing asset (if any); (b) the full name of any person who controls, or controlled, the virtual asset (including a decentralised autonomous organisation, if applicable); (c) the full name of any person in whose name the assets are, or were, held; (d) the number of virtual asset units; (e) the value of the virtual assets in Australian dollars; (f) the exchange rate used in determining the value; (g) the unique transaction reference number, including a transaction hash; (h) any virtual asset wallet addresses, including destination tags or memo details. Information about another person providing a designated service (6) If the threshold transaction relates to a person other than the reporting entity providing a designated service, the report must contain the following information about the person: (a) the full name of the person; (b) the address or location where the person was involved in the provision of the designated service; (c) the kind of designated service provided by the person. Information about online activity (7) If the threshold transaction relates to, or involves, the provision of a designated service online, the report must contain the following information about the online activity (as applicable and to the extent that the information is known): (a) unique network identification numbers for the networks used by the person, such as an Internet Protocol (IP) address; (b) the date and time that online activity was recorded occurring, if different from the date and time when the transaction took place as reported under subsection (1); (c) unique identification numbers for the relevant devices involved, such as an International Mobile Equipment Identity (IMEI); (d) a description of the software or application being used by the person; (e) the full name, and any user name, used by the person for the purposes of the software or application.

(2) For the purposes of paragraph (1)(a), the information is as follows: (a) if the person is an individual: (i) the person’s full name; and (ii) the person’s date and place of birth; and (iii) the country or countries of which the person is a citizen; and (iv) the person’s residential address; and (v) the person’s telephone number; and (vi) whether the person is an Australian resident; and (vii) if the person is bringing the monetary instrument into Australia and is not an Australian resident—the person’s address and telephone number while in Australia; and (viii) the person’s occupation, business or principal activity; and (ix) the person’s ABN (if any); (b) if the person is not an individual: (i) the person’s full name; and (ii) the person’s business or principal activity; and (iii) the address at which the person’s business or principal activity is conducted; and (iv) the person’s telephone number; and (v) the person’s ABN, ACN and ARBN (as applicable); (c) if the person is moving the monetary instrument on behalf of another person (the other person)—the following details of the other person: (i) if the other person is an individual—the details mentioned in subparagraphs (a)(i), (iv), (v), (viii) and (ix); (ii) if the other person is not an individual—the details mentioned in subparagraphs (b)(i) to (v); (d) if the person is delivering the monetary instrument to another person (the other person)—the following details of the other person: (i) if the other person is an individual—the details mentioned in subparagraphs (a)(i), (iv), (v), (viii) and (ix); (ii) if the other person is not an individual—the details mentioned in subparagraphs (b)(i) to (v); (e) whether the monetary instrument is being moved into or out of Australia; (f) the kind of monetary instrument being moved into or out of Australia; (g) the monetary instrument amount being moved into or out of Australia; (h) the currency of the monetary instrument being moved into or out of Australia; (i) if the monetary instrument is a bearer negotiable instrument: (i) the issuer or drawer of the monetary instrument; and (ii) the payee, favouree or beneficiary of the monetary instrument; and (iii) the full name of the bearer of the monetary instrument; and (iv) the city and country of issue of the monetary instrument; and (v) any reference numbers of the monetary instrument; (j) if the person is an individual and is bringing the monetary instrument into Australia or taking the instrument out of Australia: (i) whether the person is travelling into or out of Australia; and (ii) the town or city at which the person is entering or leaving Australia; and (iii) the person’s date of arrival in or departure from Australia; and (iv) the number and country of issue of the passport on which the person is travelling; and (v) where practicable—the number of each other passport held by the person and the country of issue for each passport; and (vi) the number of the flight or name of the vessel on which the person is bringing in or taking out the instrument; and (vii) if the person is taking the monetary instrument out of Australia—the city and country to which the monetary instrument is being taken; and (viii) if the person is bringing the monetary instrument into Australia—the city and country from which the monetary instrument is being brought; (k) if the monetary instrument is being sent into or out of Australia: (i) the means by which the monetary instrument is being sent; and (ii) the full name, address and telephone number of the individual or service provider carrying the monetary instrument into or out of Australia; and (iii) if the monetary instrument is to be shipped—the name of the vessel on which it is to be shipped; and (iv) the city and country from which the monetary instrument is being sent; and (v) the city and country to which the monetary instrument is being sent; and (vi) the date the monetary instrument is being sent; (l) if the monetary instrument is being sent into or out of Australia—the following details of the person to whom the monetary instrument is being sent: (i) the person’s full name; (ii) the person’s telephone number; (iii) if the person is an individual—the person’s residential address; (iv) if the person is not an individual—the address at which the person’s business or principal activity is conducted; (v) if the person is not an individual—the person’s ABN, ACN and ARBN (as applicable); (m) a declaration that the information provided in the approved form is true and correct. (3) For the purposes of paragraph (1)(b): (a) if the person moves a monetary instrument into Australia by bringing the instrument into Australia—the report must be given: (i) no later than when the person reaches the place at which customs officers examine baggage; or (ii) if there is no such place, at the first opportunity that the person has to give the report after arrival in Australia; and (b) if the person moves a monetary instrument into Australia by sending the instrument into Australia—the report must be given before the movement of the instrument takes place; and (c) if the person moves a monetary instrument out of Australia by taking the instrument out of Australia—the report must be given: (i) no later than when the person reaches the customs officer who is to examine the person’s passport in relation to the person leaving Australia; or (ii) if there is no such examination, at any time before the last opportunity that the person has to give the report before leaving Australia; and (d) if the person (the first person) moves a monetary instrument out of Australia by sending the instrument out of Australia by consignment, either through the post to a place outside Australia or to another person for carriage to a place outside Australia—the report must be given before the time when the instrument is irrevocably committed by the first person to a postal service or to the other person (as the case may be).

If a person receives a monetary instrument moved into Australia, a report under section 54 of the Act (reports about receipts of monetary instruments moved into Australia) must contain the following information (to the extent the information is known): (a) if the person is an individual—the details mentioned in subparagraphs 9‑12(2)(a)(i) to (ix); (b) if the person is not an individual—the details mentioned in subparagraphs 9‑12(2)(b)(i) to (v); (c) if the person received the monetary instrument on behalf of another person (the other person)—the following details of the other person: (i) if the other person is an individual—the details mentioned in subparagraphs 9‑12(2)(a)(i), (iv), (v), (viii) and (ix); (ii) if the other person is not an individual—the details mentioned in subparagraphs 9‑12(2)(b)(i) to (v); (d) if the person is delivering the monetary instrument to another person (the other person)—the following details of the other person: (i) if the other person is an individual—the details mentioned in subparagraphs 9‑12(2)(a)(i), (iv), (v), (viii) and (ix); (ii) if the other person is not an individual—the details mentioned in subparagraphs 9‑12(2)(b)(i) to (v); (e) the kind of monetary instrument moved into Australia; (f) the monetary instrument amount moved into Australia; (g) the currency of the monetary instrument; (h) if the monetary instrument is a bearer negotiable instrument: (i) the issuer or drawer of the monetary instrument; and (ii) the payee, favouree or beneficiary of the monetary instrument; and (iii) the full name of the bearer of the monetary instrument; and (iv) the city and country of issue of the monetary instrument; and (v) any reference numbers of the monetary instrument; (i) the means by which the monetary instrument was moved into Australia; (j) the full name of the individual or service provider who moved the monetary instrument into Australia; (k) if the monetary instrument was sent into Australia—the following details of the person who sent the monetary instrument (the sender) to the person: (i) the sender’s full name; (ii) the sender’s telephone number; (iii) if the sender is an individual—the sender’s residential address; (iv) if the sender is not an individual—the address at which the sender’s business or principal activity is conducted; (v) if the sender is not an individual—the sender’s ABN, ACN and ARBN (as applicable); (l) the city and country from which the monetary instrument was moved; (m) the city, town or port in which the monetary instrument was received by the person; (n) the date the monetary instrument was received by the person; (o) a declaration that the information provided in the approved form is true and correct.

Division 4Suspension of registration

Get a plain-English read of Division 4

Part 1—Preliminary

1‑1 Name

1‑3 Authority

1‑4 Definitions

1‑5 Domestic politically exposed person

1‑6 Enrolment details

1‑7 Registrable details

1‑8 Transfer of value—excluded transfers

1‑9 Security—managed investment schemes

Part 2—Reporting groups

2‑1 Reporting group that is a business group

2‑2 Reporting group formed by election

2‑3 Conditions for discharge of obligations by members of a reporting group

2‑4 Conditions for discharge of obligations by members of a reporting group that are not reporting entities

Part 3—Enrolment

Division 1—Application for enrolment

3‑1 Purpose of this Division

3‑2 Information about applicant’s designated services

3‑3 Information relating to the applicant

3‑4 Information relating to earnings

3‑5 Information about the person completing the application and declaration

Division 2—Correction and removal of enrolment details

3‑6 Correction of entries in the Reporting Entities Roll

3‑7 Removal of name and enrolment details on AUSTRAC CEO’s own initiative

3‑8 Request to remove entry from Reporting Entities Roll—required information

Division 3—Changes in enrolment details

3‑9 Changes in enrolment details to be advised

Part 4—Registration

Division 1—Management of the Remittance Sector Register and the Virtual Asset Service Provider Register

4‑1 Correction of entries

4‑2 Publication of register information

Division 2—Information requirements for registration applications

4‑3 Purpose of this Division

4‑4 Application—general information

4‑5 Information relating to ML/TF risks

4‑6 Information relating to AML/CTF policies

4‑7 Information relating to accounts with financial institutions

4‑8 Information relating to other persons assisting

4‑9 Information relating to key personnel and past unlawful activity etc.

4‑9A Additional requirements for application for registration as a remittance network provider

4‑10 Additional requirements for application by remittance network provider for registration of an affiliate

4‑11 Additional requirements for application by independent remittance dealer for registration as a remittance affiliate

4‑12 Additional requirements for application for registration as a remittance network provider, an independent remittance dealer or a remittance affiliate of network provider

4‑13 Additional requirements for application for registration as a remittance affiliate of network provider

4‑14 Additional requirements for application for registration as a virtual asset service provider

Division 3—Registration decisions

4‑15 Registration decisions—other matters

Division 4—Suspension of registration

4‑16 Purpose of this Division

4‑17 Suspension of registration

4‑18 Effect of suspension—renewal and advising of certain matters

4‑19 Period of suspension

4‑20 Notice of suspension decision

4‑21 Notice of extension of suspension

4‑22 Revocation of suspension of registration

4‑23 Notice of decision to revoke suspension of registration

4‑24 Register entry in relation to suspension of registration

Division 5—Cancellation of registration

4‑25 Cancellation of registration—other matters

4‑26 Publication of cancellation information

Division 6—Renewal of registration

4‑27 Purpose of this Division

4‑28 Application for renewal of registration

4‑29 Period within which renewal applications may be made

4‑30 Determining renewal application

4‑31 Period for which renewed registrations have effect

4‑32 Decision on renewal application is a reviewable decision

4‑33 Continuation of registration pending decision on renewal application

Division 7—Matters registered persons required to advise

4‑34 Matters registered persons required to advise

Division 8—Other matters

4‑35 Spent convictions

Part 5—AML/CTF programs

Division 1—ML/TF risk assessment

5‑1 Review of ML/TF risk assessment

Division 2—AML/CTF policies related to ML/TF risk mitigation

5‑2 Carrying out customer due diligence

5‑3 Policies relating to targeted financial sanctions